Treasurer’s report to the Annual General Meeting of
Croham Valley Residents’ Association
24th October 2018
Year ending 31st July 2018
In the year ending 31st July 2018 the association brought in income of £3,042.80. This consisted of £2,282.80 in subscriptions and £760.00 of advertising income. Expenditure totalled £2,283.19.
Together with the balance brought forward from 2016-17, of £2,956.67, this gives us a cash balance of £3,716.28 as at 31st July 2018.
Please see the distributed accounts for the year with prior year comparisons. These are available at the AGM and will be published in the Spring Newsletter. If you would like an extra copy please ask me, email [email protected] or download from our website www.cvra.org.uk.
2018-2019
Since August 1st we have received a further: £128.00 in late subscription.
Subscriptions for 2017/18 were significantly lower than 2016/17. This disappointing 10% reduction in income is partly due to the late payments, that arrived after the year end but emphasises the problem of collecting monies from the door; not always easy. Our membership subscription is still low and our advertising rates truly competitive. We continued to improve the quality of our Newsletter in the last year and trust this will encourage more residents to become members and more local businesses to advertise with us.
Advertising income for 2017/18 is, once again, higher reflecting improved electronic systems and increased community interest in a higher quality product. We are grateful to all the local businesses that support the newsletter. Anyone wishing to advertise in the newsletter should send a high res pdf to [email protected].
Expenditure is significantly lower this year mainly due to reduced printing costs for the new Newsletter. All other costs have been kept to a minimum.
As you can see we have a healthy bank balance and are able to function happily at the current level. If we wish to continue to improve the Newsletter and the content therein we will need to consider how we finance this in the longer term.
Thanks
The Executive Committee have asked me to express their sincere thanks to our team of dedicated distributors who ensure that every subscription is eventually collected and go out all weathers to deliver the Newsletter promptly. We could not operate without them. And finally my thanks to Kate Lynn for once again auditing our accounts. We are looking for a new volunteer auditor or independent examiner. If anyone qualified is interested in this role please contact a member of the committee.
Wendy A Love FCCA
Hon. Treasurer